The Metropolitan Opera and two of the company's largest unions, AGMA and Local 802, announced today that they have agreed to allow an independent financial analyst, Eugene Keilin, to conduct a confidential and independent study of the company's finances in an effort to help the negotiating parties reach new contractual agreements.

The announcement, which was made in collaboration with the U.S. Federal Mediation and Conciliation Service, reports that during the review, the Met and unions have agreed to effectively extend union contracts for approximately one week. In the interim, the Met announced, discussions with other unions — including Local One, Local 4, Local 751, Local 764, Local 794, Local 798, Local 829, Local 829BP, Local 1456, and Directors Guild of America — have been placed on hold.